Koenigsberg of American Investment Properties brokers $4.6 million sale

151 Herricks Road - New Hyde Park, NY

Ron Koenigsberg, American Investment Properties

New Hyde Park, NY American Investment Properties (AIP) brokered the $4.6 million sale of a mixed-use property located at 151 Herricks Rd. The subject is a 30,731 s/f building that sits on 0.61 acres. The property features 21,831 s/f of office space and 8,900 s/f of warehouse space. The challenge that AIP faced in selling the property was that the seller occupied 55% of the building.

Although the seller has agreed to sign a longer lease and has been a long-term tenant, many potential buyers thought once the property sold, the seller may vacate the building. This discouraged a lot of buyers from making bids on the property because they saw it as a leasing risk.

After obtaining the listing, AIP began advertising the property to  their database of owners, industry professionals and brokers to maximize the site’s exposure. After securing a buyer, they we able to arrange a meeting with the buyer and seller so the buyer could have an understanding of the seller’s intentions. Together, they were able to create a deal that benefited all parties.

Ron Koenigsberg, CCIM, president of AIP, represented the buyer and seller.